Current News

Contact | Print version | PDF version | Send article | RSS-Feed

Inimex Raises US $22 Million in the Fight Against Antibiotic Resistance

06 Jun 2008 - Inimex Pharmaceuticals, Inc. announced the closing of a US $22 Million Series B venture financing. Leading the round was Morningside Venture Investments Ltd., joined by additional new investors Roche Venture Fund, Switzerland, CA-based Astellas Venture Management LLC, the corporate venture capital arm of Astellas Pharma Inc. in Japan, and BC-based Advantage Life Science Fund II. Completing the round were existing Canadian investors, BC Advantage Funds (VCC) Ltd., BDC Capital Inc., British Columbia Discovery Fund (VCC) Inc., the Canadian Medical Discovery Fund Ltd. managed by JovInvestment Management, Inc. and the Working Opportunity Fund (EVCC) Ltd., managed by GrowthWorks Capital Ltd.
 
The funds will enable Inimex to conduct the first clinical trials of an Innate Defense Regulator (IDR) drug in patients and to evaluate IDR drugs in a broad range of disease models. IDRs are novel drugs that selectively trigger the body's innate defenses, protecting against antibiotic-resistant infections and controlling inflammation.